Ammonium Sulfate Market to Witness 1.5X Growth on the Back of Growing Demand for Fertilizers, Says FactMR Analyst
Published : 20 Feb 2020 Industry: Chemical & Materials
Ammonium Sulfate is an ideal fertilizer for agriculture, an efficient cleaning agent for pharmaceutical applications, and a strong conditioner for bakery products. It is this versatility of the compound that will propel global ammonium sulfate market to grow 1.5X between 2019 and 2029. Increasing customer traction from agriculture intensive economies coupled with favorable statutory regulations regarding use of alternative nitrate fertilizers are central drivers of ammonium sulfate adoption. Asian regions will play a vital role as developing countries in these regions witness increasing demand for agricultural products that employ ammonium sulfate as key fertilizers.
Key Takeaways of Ammonium Sulfate Market Study
- Solid form of ammonium sulfate will maintain its share-wise dominance, capturing 80% market share along with a steady growth rate. Solid form of ammonium sulfate will grow 1.4X during the forecast period.
- By application, fertilizers are leaders in terms of market share with more than 74% of ammonium sulfate employed in fertilization of agricultural land. Fertilizers as a segment are anticipated to grow 1.5X during the forecast period.
- Water treatments offers lucrative growth opportunities with this segment set to grow at a healthy CAGR throughout the forecast period.
- Southeast Asia & Oceania account for more than 1/4th of market share on the back of agriculture intensive economies in this region.
- Europe is second in terms of market share with an equally promising growth rate as Southeast Asia & Oceania.
“Ammonium Sulfate has beneficial properties for many end-use industries. It is favorable for market players to divest from traditional concepts of production and product to invest in preemptive development of products such as ammonium sulfate for water treatment and air purification. Future growth belongs to companies with massive global footprint and innovative business strategies.” -Says the Fact.MR Analyst
Pharmaceutical Applications Pave Way for Lucrative Opportunities
Pharmaceutical procedures employ ammonium sulfate as a cleaning agent during vaccination processes. The increasing expenditure on vaccination by millennial consumers on the back of health risks associated with deadly viruses will propel future growth of ammonium sulfate. A central figure in the scheme of things is the US which accounts for 1/3rd of all vaccinations in the world. Early adopters in this country are also form a part of ammonium sulfate demand from food & feed additives segment as they demand food products with lower pH levels and enhanced shelf-life. Developing economies in Southeast Asia will witness a surge in demand for agricultural products to cater to the rising food consumption trends. This demand for agricultural products will filter down to cause a spike in demand for ammonium sulfate.
Find More Valuable Insights on Ammonium Sulfate Market
Fact.MR, in its new offering, provides an in-depth analysis of the global ammonium sulfate market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the ammonium sulfate market on the basis of form (solid and liquid), application (fertilizers, pharmaceuticals, food & feed additives, water treatment, and others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations. For more chemicals domain expertise, visit here.